Bryan, Garnier & Co advises Recommerce Group, the European pioneer in premium second-hand smartphones, on its €50 million series C private placement
Context
Founded in 2009, Recommerce Group is the pioneer in refurbished smartphones sale and buyback solutions in Europe.
By giving a second life to smartphones, the company addresses one of the most important environmental challenges of the digital economy, in a market which is growing by more than 30% a year.
The company refurbishes more than 60,000 smartphones per-month using a highly advanced software platform, combining cutting-edge yield management and workflow solutions, with unique artificial intelligence capacities.
With a Pan-European footprint, Recommerce Group is working and dealing with renowned international retailers and tier-1 mobile network operators.
Transactional highlights
Recommerce Group announces a private placement of €50 million led by Capzanine and Creadev.
Bryan, Garnier & Co acted as the sole financial advisor to Recommerce Group and its shareholders on the transaction.
Bryan, Garnier & Co deep industry expertise and research capacity in the sector, combined with a 20- year experience in leading late stage growth financing rounds, enabled the company to structure an optimal transaction to support its international expansion strategy in a fast growing market.
Bryan, Garnier & Co sets a new record transaction with the largest private placement round of the sector in Europe.
It confirms the investment bank’s leadership in later stage technology financing.
About Recommerce
RECOMMERCE GROUP is the sector expert of sale, refurbishment and buyback of second hand smartphones. It gives second life to smartphones using innovative and advanced proprietary technologies from buyback to resale. Recommerce Group has the most comprehensive and technological market approach enabling the company to propose a wide range of premium quality products under its own brand: Recommerce, as well as web and shops buyback solutions and dedicated services to mobile second life. The group is an international company working and dealing with renown European retailers and MNOs in France, Switzerland and Spain.
About Capzanine
Created in 2004, Capzanine is an independent investment fund specialized in mixed “equity and private debt” investment. It supports companies in their growth while providing financial and industrial expertise to successfully carry out development and transfer phases. Depending on the circumstances, Capzanine invests as a majority or minority shareholder and/or private debt provider in small and mid-cap non-listed companies, valued between €20m and €400m. Based in Paris and managed by its partners, Capzanine currently has €1.1bn in assets under management. Its portfolio includes investments such as Francheville, Cap Vert Finance, Questel, Carrera, Marle, Opteven, Neoxam and Le Belier.
About Creadev
Creadev is a private equity firm created in 2002 and controlled by the Mulliez family, with offices in Paris and Shanghai. Today, Creadev accompanies ten businesses that together employ over 70,000 individuals worldwide. The company is widely recognized for its long-term commitments and meaningful investments. Creadev focuses its investments on people and ideas that advance human development and address the major issues facing our societies: health & wellness, professional training, sustainable development, customer relations - especially where these take shape in the digital world.
About Bryan, Garnier & Co
Bryan, Garnier & Co is a European, full service growth-focused independent investment banking partnership founded in 1996. The firm provides equity research, sales and trading, private and public capital raising as well as M&A services to growth companies and their investors. It focuses on key growth sectors of the economy including Technology, Media & Telecoms, Healthcare, Smart Industries & Energy, Consumer, Brands & Retail and Business Services. Bryan, Garnier & Co is a fully registered broker dealer authorized and regulated by the FCA in Europe and the FINRA in the U.S. Bryan, Garnier & Co is headquartered in London, with additional offices in Paris, Munich and New York. The firm is a member of the London Stock Exchange and Euronext.
Deal team
Greg Revenu
Managing Partner
T: + 33 1 56 68 75 25
Jonathan Foiret-Hurbin
Director
T: +33 1 56 68 75 52
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